If cashflow is the name of the game, cashflow management is the filter of the flow… welcome Income Hackers! In today’s episode, we are talking CASH FLOW and how to properly manage it for wealth and success. Colton Lindsay will share with us the not so secret hacks about money like profiting first, making it work for you, and why you shouldn’t wait to buy real estate, but rather buy real estate and wait!
Colton Linsday, our special guest today, is an internationally recognized real estate trainer, online marketing specialist, and passive income creator with 13 years of experience. He’s created the WGR academy, where he strives to inspire others to empower themselves, light up their souls, and master their inner game. Colton shows his students how to achieve not only financial success, but also how to win from within by shifting your mindset.
We’ll dive deep into important topics such as getting financially literate and not delegating your success to others, investing in stocks and cryptos, speculation vs. investment, and even managing a “fun” account with your partner to spend away that extra income. Tune in and find out how knowing your WHY? and having a clear purpose will shift things forwards to start making the deals happen.
“Singlehandedly, the one income hack that has shifted my entire financial destiny is cashflow management. If you can’t manage a dollar, you’ll never manage a million dollars or ten million dollars - Colton Lindsay
Podcast summary:
07:36 - Why money does not get you fulfillment, and how your physical and your spiritual well-being are key to happiness.
12:08 - ‘Get out of the deal, when it’s in the headlines, it’s too late, do not get in the deal’ - Colton on his first deal on a spec house, and how he got lucky on an outcome he couldn’t control.
14:02 - What is speculation investing and how it differs from cashflow investing.
16:32 - Colton’s biggest Income Hacker mind shift: Paying yourself first and cashflow management.
20:08 - Biggest Income Hacker mistake: ‘Do not make financial investments under stress’.
21:55 - You always make your money when you buy and the difference between gambling and investing: knowing your numbers.
24:05 - Being open-minded and making the deal happen.
26:02 - Advice on buying your first cash flow property: make sure you can pay for it if things don’t go your way or the market turns.
29:38 - Biggest Income Hacking success: getting into digital marketing and creating passive income streams with coaching programs.
31:49 - Getting into the stock market and investing in the companies that you use every single day and rely on.
33:10 - Taking ownership of your own financial destiny and not delegating success to financial advisors.
36:07 - Are you just starting out? Find that cash flow management system and get educated.
Connect with Colton
Twitter - @TheWGR
YouTube - Colton Lindsay
Want to learn more?
Join Ryan on our next webinar to learn how you can start real estate investing with The Investor's Edge.
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